National Economic Council (NEC), chaired by Prime Minister Muhammad Nawaz Sharif at the PM Office

June 01, 2015

Islamabad; June 1, 2015

National Economic Council (NEC), chaired by Prime Minister Muhammad Nawaz Sharif at the PM Office here today approved GDP growth target of 5.5% for financial year 2015-16 and Rs. 1.514 trillion development outlay including Rs. 700 billion as federal PSDP and Rs. 814 billion as provincial Annual Development Program (ADP).

Growth target for 2015-16 for agriculture sector has been set at 3.9%, 6.1% for manufacturing sector, while exports target has been set as $25.5 billion.

The meeting was given an overview of the state of country's economy in 2014-15 in addition to being briefed about budget outlay for financial year 2015-16.

The meeting approved macroeconomic framework for Annual Plan for 2015-16. Progress report of CDWP from April 2014 to March 2015 was also presented before the NEC and Planning Commission was authorized to publish the 11th five-year plan.

The Prime Minister directed that funds for projects being funded by federal government should be properly allocated to priority projects in complete coordination with provincial governments to ensure optimum utilization of funds and to reduce chances of duplication.

Chief Ministers of all the four provinces; Governor KP; CM Gilgit-Baltistan; Ministers for Finance, Planning and Water & Power; Finance Ministers of all provinces as well as AJ&K and Secretaries for Ministries for Finance and Planning attended the meeting along with other senior government officials.